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JRVR INVESTOR ALERT: Investors With Substantial Losses Have Opportunity to Lead the James River Group Holdings, Ltd. Class Action Lawsuit

JRVR INVESTOR ALERT: Investors With Substantial Losses Have Opportunity to Lead the James River Group Holdings, Ltd. Class Action Lawsuit

SAN DIEGO–(BUSINESS WIRE)–Robbins Geller Rudman & Dowd LLP announces that purchasers of James River Group Holdings, Ltd. (NASDAQ: JRVR) common stock between August 1, 2019 and May 5, 2021, inclusive (the “Class Period”) have until September 7, 2021 to seek appointment as lead plaintiff in the James River Group class action lawsuit. The James River Group class action lawsuit charges James River Group and certain of its top executives with violations of the Securities Exchange Act of 1934. The James River Group class action lawsuit was commenced on July 9, 2021 in the Eastern District of Virginia and is captioned Employees’ Retirement Fund of the City of Fort Worth dba Fort Worth Employees’ Retirement Fund v. James River Group Holdings, Ltd.,No. 21-cv-00444.

If you wish to serve as lead plaintiff of the James River Group class action lawsuit, please provide your information by clicking here. You can also contact attorney J.C. Sanchezof Robbins Geller by calling 800/449-4900 or via e-mail at [email protected]. Lead plaintiff motions for the James River Group class action lawsuit must be filed with the court no later than September 7, 2021.

CASE ALLEGATIONS: In 2014, James River Group ramped up its Commercial Auto Division by underwriting a new type of insurance policy that covered Rasier LLC (“Rasier”), a subsidiary of the ride-sharing company Uber Technologies, Inc. (together with Rasier, “Uber”).

The James River Group class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) James River Group had not adequately reserved for its Uber policies; (ii) James River Group was using an incorrect methodology for setting reserves that materially understated James River Group’s true exposure to Uber claims; (iii) as a result, James River Group was forced to increase its unfavorable reserves in subsequent quarters even after cancelling the Uber policies; and (iv) consequently, defendants’ statements about James River Group’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.

On October 8, 2019, James River Group announced that it had delivered a notice of early cancellation for all insurance policies issued to Uber, though James River Group would remain contracted to provide coverage for future claims related to the period James River Group’s Uber policies were in effect (known as “runoff”). James River Group stated that “[the Uber] account ha[d] not met our expectations for profitability.” On this news, James River Group’s stock price declined more than 22%.

Then, on May 5, 2021, after alleged assurances to investors that the legacy contract posed no challenges, James River Group disclosed an additional $170 million of unfavorable reserves related to the Uber policies. On a related conference call, James River Group revealed that the increase was due to a change from using “industry data, pricing data, experience data, average claim severity data, and blended methodologies” to “using only our own loss experience in our paid and incurred reserve projections . . . [to calculate] a better and more conservative estimate of ultimate losses on this account.” Simultaneously, to cover its losses, James River Group announced that it was seeking to raise $175 million through a public equity offering, which was priced at “the sector’s steepest discount ever” according to Bloomberg. On this news, James River Group’s stock price fell an additional 26%, further damaging investors.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased James River Group common stock during the Class Period to seek appointment as lead plaintiff in the James River Group class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the James River Group class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the James River Group class action lawsuit. An investor’s ability to share in any potential future recovery of the James River Group class action lawsuit is not dependent upon serving as lead plaintiff.

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 lawyers in 9 offices nationwide, Robbins Geller Rudman & Dowd LLP is the largest U.S. law firm representing investors in securities class actions. Robbins Geller attorneys have obtained many of the largest shareholder recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. The 2020 ISS Securities Class Action Services Top 50 Report ranked Robbins Geller first for recovering $1.6 billion for investors last year, more than double the amount recovered by any other securities plaintiffs’ firm. Please visit https://www.rgrdlaw.com/firm.html for more information.

Attorney advertising.

Past results do not guarantee future outcomes.

Services may be performed by attorneys in any of our offices.

Robbins Geller Rudman & Dowd LLP

655 W. Broadway, San Diego, CA 92101

J.C. Sanchez, 800-449-4900

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Legal Professional Services

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LendingClub Reaches Settlement with Federal Trade Commission

PR Newswire

SAN FRANCISCO, July 14, 2021 /PRNewswire/ — LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s leading digital marketplace bank, today announced that it has entered into an agreement with the Federal Trade Commission (FTC) which, subject to court approval, will conclude the agency’s previously disclosed investigation and litigation (the Settlement).

“While we have never agreed with the FTC’s allegations, we appreciate the important role the FTC plays to protect consumers and are pleased to have reached an agreement that resolves the agency’s concerns,” said LendingClub Chief Administrative Officer Brandon Pace. “We look forward to continuing our mission to empower our members on their path to financial health.”

Pursuant to the terms of the Settlement, LendingClub will make an $18 million payment for consumer remediation, an amount already accrued for in prior periods. The Settlement does not include any admission of liability, and LendingClub does not expect that the Settlement will impact its current operations or its financial outlook disclosed on April 28, 2021. LendingClub strives to maintain exceptional customer satisfaction ratings and is a leading example of innovating to expand credit to underserved consumers. To date, LendingClub has helped more than three million Americans improve their financial health.

About LendingClub


LendingClub Corporation (NYSE: LC) is the parent company of LendingClub Bank, National Association, Member FDIC. It is the first digital marketplace bank in the U.S. Members can gain access to a broad range of financial products and services through a technology-driven platform, designed to help them pay less when borrowing and earn more when saving. Since 2007, more than 3 million members have joined the Club to help reach their financial goals. For more information about LendingClub, visit https://www.lendingclub.com.

CONTACT: 
For Investors: [email protected] 
Media Contact: [email protected]

Safe Harbor Statement

Some of the statements above, including statements regarding the impact of the Settlement, are “forward-looking statements.” Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties. Factors that could cause actual outcomes and results to differ materially from those contemplated by these forward-looking statements include, among other things, those factors set forth in the section titled “Risk Factors” in LendingClub’s most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K, each as filed with the Securities and Exchange Commission, and approval of the settlement agreement as described above. LendingClub may not actually achieve the plans, intentions or expectations disclosed in forward-looking statements, and you should not place undue reliance on forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements. LendingClub does not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/lendingclub-reaches-settlement-with-federal-trade-commission-301334222.html

SOURCE LendingClub Corporation

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Markforged Announces Listing on New York Stock Exchange Under Ticker Symbol “MKFG”

Markforged Announces Listing on New York Stock Exchange Under Ticker Symbol “MKFG”

Markforged Begins Trading on July 15 Following Successful Closing of Merger with one SPAC

WATERTOWN, Mass.–(BUSINESS WIRE)–
Markforged, Inc., creator of the integrated metal and carbon fiber additive manufacturing platform, The Digital Forge, today announced that it has completed its previously announced merger with one (NYSE: AONE), a special purpose acquisition company sponsored by A-star and founded and led by technology industry veteran Kevin Hartz. The combined company, named Markforged Holding Corporation, is expected to commence trading on the New York Stock Exchange beginning on July 15, 2021 under the ticker symbol “MKFG” for Markforged common stock and “MKFG.WS” for Markforged warrants.

Markforged continued its commitment to delivering innovation in the additive manufacturing space with a number of production and pipeline milestones in 2021, including the introduction of its newest printer, the FX20, the release of the Metal X Gen 2 and X7 Field Edition, as well as its Next Day Metal software update, which unlocked increased speed and capacity across its global fleet, and AI-powered Blacksmith software for the X7 platform. Markforged also has brought on leading global partners such as Phillips Corporation and expanded its relationship with Würth Additive Group, a Würth Industry North America company. The company added to its Board of Directors and began an expansion of its Boston-area headquarters to support the growth of its team.

“Today is a proud moment for the entire Markforged team and a significant milestone in our mission to reinvent manufacturing today so our customers can build anything they imagine tomorrow,” said Shai Terem, President and Chief Executive Officer of Markforged. “As a publicly traded company, we will continue to focus on executing on our ambitious product roadmap and further accelerating innovation, expanding customer adoption, and capitalizing on the strong secular trends in additive manufacturing, allowing us to bring our platform to even more manufacturing floors around the world for mission-critical use cases. Looking ahead, we have some exciting products in our pipeline as we move from accessible end-use parts to robust production. I couldn’t be more excited about our talented team and the opportunities in this next chapter.”

Kevin Hartz, Founder and CEO of one, said, “Being a publicly traded company will enable Markforged to build new relationships as a critical partner to even more leading global manufacturers, leveraging its expanded platform and proceeds from the transaction to accelerate its impact and growth. I am excited to join the Board of Directors and to work alongside a group of talented and diverse directors. I look forward to contributing to the team as Markforged continues to scale and this nascent industry matures and transforms modern manufacturing in the coming years.”

Transaction Details

In connection with the closing of the merger, Markforged has received approximately $361 million of gross proceeds before transaction expenses, including a $210 million PIPE from Baron Capital Group, funds and accounts managed by BlackRock, Miller Value Partners, Wasatch Global Investors, and Wellington Management, as well as existing Markforged shareholders M12 – Microsoft’s Venture Fund and Porsche Automobil Holding SE.

As part of the merger, the existing management team, led by President and CEO Shai Terem, will continue to operate the business. Kevin Hartz and Carol Meyers, venture partner at Glasswing Ventures, LLC, will join Markforged’s Board of Directors. Alan Masarek, most recently CEO of Vonage (Nasdaq: VG) will join the Board as Chairman.

Additional information about the completed merger will be provided in a Current Report on Form 8-K to be filed by Markforged with the Securities and Exchange Commission and available at sec.gov.

Advisors

Citigroup Global Markets Inc. served as lead financial advisor and capital markets advisor to Markforged. William Blair and Stifel, Nicolaus & Company, Incorporated also acted as financial advisor and capital markets advisor to Markforged, and Goodwin Procter LLP served as legal counsel.

Goldman Sachs & Co. LLC served as exclusive financial advisor to one and Cadwalader, Wickersham & Taft LLP served as legal counsel.

Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC served as co-placement agents on the PIPE.

About Markforged

Markforged transforms manufacturing with 3D metal and continuous carbon fiber printers capable of producing parts tough enough for the factory floor. The Markforged Digital Forge brings the power and speed of agile software development to industrial manufacturing, combining hardware, software, and materials to eliminate the barriers between design and functional part. Engineers, designers, and manufacturing professionals all over the world rely on Markforged metal and composite printers for tooling, fixtures, functional prototyping, and high-value end-use production. Founded in 2013 and based in Watertown, MA, Markforged has more than 250 employees globally. Markforged has been recognized by Forbes in the Next Billion-Dollar Startups list, and listed as the #2 fastest-growing hardware company in the US in the 2019 Deloitte Fast 500. To learn more about Markforged, please visit https://markforged.com.

About one

one is a special purpose acquisition company sponsored by A* formed for the purpose of effecting a business combination with one or more businesses in the innovation economy. one completed its initial public offering in August 2020 raising $215 million in cash proceeds. A* was founded and is led by technology industry veteran Kevin Hartz. To learn more about one, please visit https://www.a-star.co/.

Special Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that are based on beliefs and assumptions and on information currently available. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although Markforged believes that it has a reasonable basis for each forward-looking statement contained in this press release, Markforged cautions you that these statements are based on a combination of facts and factors currently known by it and its projections of the future, about which it cannot be certain. Forward-looking statements in this press release include, but are not limited to, statements regarding the timing for commencement of trading, the anticipated contribution of the members of Markforged’s board of directors and leadership to Markforged’s operations, progress and financial results, Markforged’s product roadmap, pipeline and future innovation, the functionality and applications of Markforged’s products, the expected growth of the additive manufacturing industry, the expected growth of Markforged’s revenue and customer base, the impact of Markforged’s products on its financial condition and results of operation, and the integration of Markforged’s products into the additive manufacturing market. Markforged cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward looking statements are subject to a number of risks and uncertainties, including, among others, general economic, political and business conditions; the ability of Markforged to maintain its listing on the New York Stock Exchange; the effect of COVID-19 on Markforged’s business and financial results; the outcome of any legal proceedings against Markforged; failure to realize the anticipated benefits of the business combination, including as a result of costs related thereto and additional burdens of being a publicly traded company; the risk that the business combination disrupts current plans and operations as a result of the announcement and consummation of the business combination; the ability of the combined company to grow and manage growth profitably and retain its key employees; and those factors discussed under the header “Risk Factors” in the Proxy Statement and Prospectus filed pursuant to Rule 424B(3) with the SEC on June 24, 2021 and those included under the header “Risk Factors” in one’s Annual Report on Form 10-K and other filings with the SEC. Furthermore, if the forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that Markforged will achieve its objectives and plans in any specified time frame, or at all. The forward-looking statements in this press release represent Markforged’s views as of the date of this press release. Markforged anticipates that subsequent events and developments will cause its views to change. However, while Markforged may elect to update these forward-looking statements at some point in the future, Markforged has no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing Markforged’s views as of any date subsequent to the date of this press release.

Markforged

Media

Paulina Bucko

[email protected]

Investors

[email protected]

one

Media

[email protected]

Investors

[email protected]

KEYWORDS: United States North America Massachusetts

INDUSTRY KEYWORDS: Software Networks Hardware General Automotive Technology Automotive Other Manufacturing Packaging Engineering Automotive Manufacturing Aerospace Manufacturing

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Sandbridge Acquisition Corporation Stockholders Approve Business Combination with Owlet

Sandbridge Acquisition Corporation Stockholders Approve Business Combination with Owlet

LOS ANGELES–(BUSINESS WIRE)–
Sandbridge Acquisition Corporation (NYSE: SBG) (“Sandbridge”) announced that its stockholders have approved all proposals related to the previously announced business combination (the “Business Combination”) with Owlet Baby Care Inc. (“Owlet”) at a special meeting of stockholders held on July 14, 2021. Approximately 92% of the votes cast at the meeting on the Business Combination proposal, representing approximately 79% of Sandbridge’s outstanding shares, voted to approve the Business Combination.

The closing of the Business Combination is anticipated to occur on or about July 15, 2021. Following the closing, the combined company will operate as Owlet, Inc. and its shares of Class A common stock and warrants are expected to trade on the New York Stock Exchange beginning July 16, 2021 under the symbols “OWLT” and “OWLT WS,” respectively.

Sandbridge has received elections to redeem approximately 19.8 million of its outstanding shares, which will leave approximately $32.4 million in its trust account. Combined with the $130.0 million in expected gross proceeds from a concurrent private placement, there will be approximately $135.7 million of cash available to the combined company from the transaction, after deducting transaction fees and expenses. As a result of the redemptions, Owlet has waived the requirement that the total cash proceeds available from the trust account, after redemptions and deducting deferred underwriting fees and Sandbridge’s transaction expenses, equal or exceed $140 million.

About Sandbridge Acquisition Corporation

Sandbridge Acquisition Corporation (NYSE: SBG) is a special purpose acquisition company with a team that includes experienced industry operators and investors who have partnered with leading high-growth consumer companies, including Thom Browne, Rossignol, The RealReal, Farfetch and Hydrow.

For more information, please visit www.sandbridgeacquisition.com.

About Owlet Baby Care

Owlet Baby Care Inc. was founded by a team of parents in 2012. Owlet’s mission is to empower parents with the right information at the right time, to give them more peace of mind and help them find more joy in the journey of parenting. Owlet’s digital parenting platform aims to give parents real-time data and insights to help parents feel more calm and confident. Owlet believes that every parent deserves peace of mind and the opportunity to feel their well-rested best. Owlet also believes that every child deserves to live a long, happy, and healthy life, and is working to develop products to help facilitate that belief.

Forward-Looking Statements

Certain statements, estimates, targets and projections in this press release may be considered forward-looking statements. Forward-looking statements generally relate to future events or Sandbridge’s or Owlet’s future financial or operating performance. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements.

These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Sandbridge and its management, and Owlet and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: the occurrence of any event, change or other circumstances that could give rise to the termination of any definitive agreements with respect to the proposed business combination; the outcome of any legal proceedings that may be instituted against Sandbridge, Owlet, the combined company or others following the announcement of the proposed business combination and any definitive agreements with respect thereto; the inability to complete the proposed business combination due to the failure to satisfy conditions to closing; changes to the proposed structure or terms of the proposed business combination that may be required or appropriate as a result of applicable laws or regulations or in response to market reaction to the announcement of the transaction; the ability to meet stock exchange listing standards at or following the consummation of the proposed business combination; the risk that the proposed business combination disrupts current plans and operations of Owlet as a result of the announcement and consummation of the proposed business combination, and as a result of the post-transaction company being a publicly listed issuer; the ability to recognize the anticipated benefits of the proposed business combination, which may be affected by, among other things, competition, the regulatory pathway for Owlet products and responses from regulators, including the U.S. Food and Drug Administration and similar regulators outside of the United States, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain Owlet’s management and key employees; costs related to the proposed business combination, including costs associated with the post-transaction company being a publicly listed issuer; changes in applicable laws or regulations; the possibility that Owlet or the combined company may be adversely affected by other economic, business, regulatory and/or competitive factors; Owlet’s estimates of expenses and profitability; the evolution of the markets in which Owlet competes; the ability of Owlet to implement its strategic initiatives and continue to innovate its existing products; the ability of Owlet to defend its intellectual property and satisfy regulatory requirements; the impact of the COVID 19 pandemic on Owlet’s business; the limited operating history of Owlet; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the definitive proxy statement/prospectus for the proposed business combination transaction dated June 21, 2021 and other documents to be filed with the SEC by Sandbridge.

Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Neither Sandbridge nor Owlet undertakes any duty to update these forward-looking statements.

Investor Relations

Sandbridge Acquisition Corporation

Rebecca Campbell

Konnect Agency

[email protected]

(213) 225-4415

Owlet Baby Care

Mike Cavanaugh

Westwicke, an ICR company

[email protected]

(646) 677-1838

Media Relations

Sandbridge Acquisition Corporation

Rebecca Campbell

Konnect Agency

[email protected]

(213) 225-4415

Owlet Baby Care

Jane Putnam

Owlet Baby Care

[email protected]

Cammy Duong

Westwicke, an ICR company

[email protected]

(203) 682-8380

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Parenting Children Baby/Maternity Consumer

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QuantumScape Announces Timing of Second Quarter 2021 Financial Results and Webcast

QuantumScape Announces Timing of Second Quarter 2021 Financial Results and Webcast

SAN JOSE, Calif.–(BUSINESS WIRE)–QuantumScape Corporation (NYSE: QS), a leader in the development of next generation solid-state lithium-metal batteries for use in electric vehicles, today announced it will release 2021 second quarter financial results after market close on Tuesday, July 27, 2021. This will be followed by a conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). Participating on the call will be Jagdeep Singh, co-founder and chief executive officer, and Kevin Hettrich, chief financial officer, of QuantumScape.

Starting today, retail and institutional shareholders can submit and upvote questions to management. To submit questions, please visit this online platform (https://app.saytechnologies.com/quantumscape-2021-q2); shareholders at brokers with Say can participate directly in their investing app or broker website. We will accept questions for the Q&A platform until Monday, July 26 at 5:00 PM (Eastern Time).

The call will be accessible via a live webcast on the IR Events Calendar page in the Investor Relations section of QuantumScape’s website at www.quantumscape.com. An archive of the webcast will be available shortly after the call for 12 months.

About QuantumScape Corporation

QuantumScape is a leader in developing next generation solid-state lithium-metal batteries for electric vehicles. The company is on a mission to revolutionize energy storage to enable a sustainable future.

For more information, please visit www.quantumscape.com.

For Investors

John Saager, CFA

Head of Investor Relations

[email protected]

For Media

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Other Energy Automotive Automotive Manufacturing Manufacturing Alternative Energy Energy Alternative Vehicles/Fuels

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Taro Announces Resignation of Chief Financial Officer

Taro Announces Resignation of Chief Financial Officer

HAWTHORNE, N.Y.–(BUSINESS WIRE)–
Taro Pharmaceutical Industries Ltd. (NYSE: TARO) (“Taro” or the “Company”) announced today that it has accepted the resignation of its Chief Financial Officer, Daphne Huang, effective August 6, 2021. Ms. Huang is leaving the Company in order to pursue other opportunities.

Mr. Uday Baldota, Taro’s CEO, stated, “On behalf of the Company, I want to thank Daphne for her valuable contributions including her efforts over the past year during the COVID-19 pandemic. We wish her the best in her future endeavors.”

The Company has initiated a search for a successor as Chief Financial Officer.

About Taro

Taro Pharmaceutical Industries Ltd. is a multinational, science-based pharmaceutical company, dedicated to meeting the needs of its customers through the discovery, development, manufacturing and marketing of the highest quality healthcare products. For further information on Taro Pharmaceutical Industries Ltd., please visit the Company’s website at www.taro.com.

William J. Coote

AVP, Treasurer

(914) 345-9001

[email protected]

KEYWORDS: United States North America Israel Middle East New York

INDUSTRY KEYWORDS: Biotechnology General Health Pharmaceutical Health

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Byron Allen’s Allen Media Broadcasting Buys ABC Affiliate WJRT-TV In Flint, Michigan From Gray For $70 Million

PR Newswire

ATLANTA, July 14, 2021 /PRNewswire/ — Gray Television, Inc. (“Gray“) (NYSE: GTN) has reached an agreement to divest WJRT-TV, its ABC affiliate for the Flint–Saginaw, Michigan, television market, to Byron Allen’s Allen Media Broadcasting, LLC (“Allen Media“) for $70 million dollars in cash.  

Gray’s sale of WJRT-TV facilitates regulatory approvals for its pending acquisition of the Local Media Group division of Meredith Corporation (“Meredith“) by removing the only market overlap between the respective television station portfolios of Gray and Meredith.  The closing for the sale of WJRT-TV is expected to occur in the third or fourth quarter of 2021 prior to the closing of the Gray/Meredith transaction and is subject to customary closing conditions. WJRT-TV General Manager Pete Veto will remain with Gray after the closing of this sale in a new position that Gray will announce at a later date.

Allen Media Group was founded by Byron Allen in 1993. Upon closing, Allen Media will own and operate twenty-four local television stations in twenty markets, as well as twelve television networks including The Weather Channel and the free-streaming service Local Now.  On April 29, 2021, Gray and Allen Media Group announced that Allen Media Group would acquire ten television stations currently owned by Quincy Media, Inc. for $380 million upon Gray’s anticipated acquisition of Quincy in the third quarter.

“Having to divest WJRT-TV, which we have proudly owned for the past seven years, in order to facilitate our purchase of Meredith’s television stations is bittersweet,” said Gray’s Executive Chairman and CEO Hilton H. Howell.  “The wonderful WJRT-TV staff has done an exemplary job serving the Flint–Saginaw community, and we are disappointed to lose them.  Nevertheless, we are excited that Byron Allen and his team will follow us as the next dedicated stewards of this fine television station.”

 “We are delighted to win the process to add this wonderful local television station and its great employees to the fast-growing Allen Media Group family,” said Byron Allen, Founder, Chairman, and CEO of Allen Media Group. “Over the past year-and-a-half, we’ve invested close to $1 billion to acquire best-in-class, top-tier, broadcast network affiliates and we plan to invest approximately ten billion dollars to acquire more ABC, CBS, NBC, and FOX television stations over the next two years with the goal of being the largest broadcast television group in America. All of our media assets will work in concert to amplify our free-streaming service, Local Now.” 


About Gray Television


Gray Television, headquartered in Atlanta, Georgia, is the largest owner of top-rated local television stations and digital assets in the United States.  Upon the closing of its acquisitions of Quincy Media, Inc. and the television stations of Meredith Corporation, Gray will become the nation’s second largest television broadcaster, with television stations serving 113 markets that reach approximately 36 percent of US television households.  The pro forma portfolio includes 79 markets with the top-rated television station and 101 markets with the first and/or second highest rated television station according to Comscore’s audience measurement data.  Gray also owns video program production, marketing, and digital businesses including Raycom Sports, Tupelo Honey, and RTM Studios, the producer of PowerNation programs and content and is the majority owner of Swirl Films.

Wells Fargo Securities, LLC served as financial advisor to Gray.


About Allen Media Group/Entertainment Studios

Chairman and CEO Byron Allen founded Allen Media Group/Entertainment Studios in 1993. Headquartered in Los Angeles, it has offices in New York, Chicago, Atlanta, and Raleigh. Allen Media Group owns 24 ABC-NBC-CBS-FOX network affiliate broadcast television stations in 20 U.S. markets and twelve 24-hour HD television networks serving nearly 180 million subscribers: THE WEATHER CHANNEL, PETS.TV, COMEDY.TV, RECIPE.TV, CARS.TV, ES.TV, MYDESTINATION.TV, JUSTICE CENTRAL.TV, THEGRIO.TV, THIS TV, LOCAL NOW TV, and PATTRN. Allen Media Group will add its thirteenth network, THE WEATHER CHANNEL EN ESPANOL in 2022. Allen Media Group also owns LOCAL NOW and THE GRIO free–streaming AVOD services, powered by THE WEATHER CHANNEL and content partners, which delivers real-time, hyper-local news, weather, traffic, sports, and lifestyle information. Allen Media Group also produces, distributes, and sells advertising for 68 television programs, making it one of the largest independent producers/distributors of first-run syndicated television programming for broadcast television stations. Allen Media Group InternationalTelevision continues to extend its corporate branding and content around the globe.  It currently has active license agreements and programming in South Africa, The United Arab Emirates, Australia, The Bahamas, Canada and New Zealand.  With a library of over 5,000 hours of owned content across multiple genres, Allen Media Group provides video content to broadcast television stations, cable television networks, mobile devices, multimedia platforms, and the World Wide Web.  Our mission is to provide excellent programming to our viewers, online users, and Fortune 500 advertising partners.

Entertainment Studios Motion Pictures is a full-service, theatrical motion picture distribution company specializing in wide release commercial content. ESMP released 2017’s highest-grossing independent movie, the shark thriller 47 METERS DOWN, which grossed over $44.3 million. In 2018, ESMP also released the critically-acclaimed and commercially successful Western HOSTILES, the historic mystery-thriller CHAPPAQUIDDICK and the sequel to 47 METERS DOWN, 47 METERS DOWN: UNCAGED. The digital distribution unit of Entertainment Studios Motion Pictures, Freestyle Digital Media, is a premiere multi-platform distributor with direct partnerships across all major cable, digital and streaming platforms. Capitalizing on a robust infrastructure, proven track record and a veteran sales team, Freestyle Digital Media is a true home for independent films.

In 2016, Allen Media Group purchased The Grio, a highly-rated digital video-centric news community platform devoted to providing African-Americans with compelling stories and perspectives currently underrepresented in existing national news outlets. The Grio features aggregated and original video packages, news articles and opinion pieces on topics that include breaking news, politics, health, business and entertainment. Originally launched in 2009, the platform was then purchased by NBC News in 2010. The digital platform remains focused on curating exciting digital content and currently has more than 100 million annual visitors. For more information, visit: www.entertainmentstudios.com


Forward-Looking Statements:

This press release contains certain forward looking statements that are based largely on Gray’s current expectations and reflect various estimates and assumptions by Gray. These statements are statements other than those of historical fact, and may be identified by words such as “estimates”, “expect,” “anticipate,” “will,” “implied,” “assume” and similar expressions. Forward looking statements are subject to certain risks, trends and uncertainties that could cause actual results and achievements to differ materially from those expressed in such forward looking statements. Such risks, trends and uncertainties, which in some instances are beyond Gray’s control, include Gray’s ability to complete its pending acquisition of Meredith and Quincy, pending divestiture of WJRT-TV or other pending transactions, on the terms and within the timeframe currently contemplated, any material regulatory or other unexpected requirements in connection therewith, or whether expected synergies can be achieved on a timely basis or at all, the impact of recently completed transactions, estimates of future retransmission revenue, future expenses and other future events. Gray is subject to additional risks and uncertainties described in Gray’s quarterly and annual reports filed with the Securities and Exchange Commission from time to time, including in the “Risk Factors,” and management’s discussion and analysis of financial condition and results of operations sections contained therein, which reports are made publicly available via its website, www.gray.tv. Any forward-looking statements in this communication should be evaluated in light of these important risk factors. This presentation reflects management’s views as of the date hereof. Except to the extent required by applicable law, Gray undertakes no obligation to update or revise any information contained in this communication beyond the date hereof, whether as a result of new information, future events or otherwise.

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/byron-allens-allen-media-broadcasting-buys-abc-affiliate-wjrt-tv-in-flint-michigan-from-gray-for-70-million-301334215.html

SOURCE Allen Media Group

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Conformis, Inc. to Present at the Canaccord Genuity 40th Annual Growth Conference

BILLERICA, Mass., July 14, 2021 (GLOBE NEWSWIRE) — Conformis, Inc. (NASDAQ: CFMS), an orthopedic medical device company that features personalized knee and hip replacement products, announced today that Mark Augusti, Chief Executive Officer, and Bob Howe, Chief Financial Officer, will present at the Canaccord Genuity 40th Annual Growth Conference.

The virtual presentation is scheduled for Wednesday, August 11, 2021 at 4:00 p.m. ET. A live webcast of the presentation will be available at https://wsw.com/webcast/canaccord60/cfms/2438788.

Conformis management will also be available for one-on-one meetings throughout the conference. For more information about the conference or to schedule a one-on-one meeting with management, please contact your Canaccord representative or Conformis Investor Relations at [email protected] and (781) 374-5598.

The live webcast of the presentation will be available under “Events and Presentations” in the Investors section of the Conformis website at ir.conformis.com. The replay of the webcast will be archived on Conformis’ website for 30 days following the presentation.

About Conformis, Inc.

Conformis is a medical technology company that uses its proprietary iFit® Image-to-Implant® technology platform to develop, manufacture, and sell joint replacement implants and instruments that are individually sized and shaped, which we refer to as personalized, individualized, or sometimes as customized, to fit and conform to each patient’s unique anatomy.  Conformis offers a broad line of sterile, personalized knee and hip implants and single-use instruments delivered to hospitals and ambulatory surgical centers.   Conformis owns or exclusively in-licenses issued patents and pending patent applications that cover personalized implants and patient-specific instrumentation for all major joints.

For more information, visit www.conformis.com. To receive future releases in e-mail alerts, sign up at ir.conformis.com.



Investor Contact:
[email protected]
(781) 374-5598

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Spirit AeroSystems to Release Second Quarter 2021 Financial Results August 4

Spirit AeroSystems to Release Second Quarter 2021 Financial Results August 4

WICHITA, Kan.–(BUSINESS WIRE)–
Spirit AeroSystems Holdings, Inc. (NYSE: SPR) will release its second quarter 2021 financial results at 6:30 a.m. Central Time Wednesday, August 4, 2021.

Spirit AeroSystems President and Chief Executive Officer Tom Gentile will be joined by Spirit’s Senior Vice President and Chief Financial Officer Mark Suchinski and Spirit’s Executive Vice President and Chief Operating Officer Sam Marnick on a conference call presentation to securities analysts about second quarter 2021 results and company outlook at 10 a.m. Central Time.

That presentation will be broadcast online. It will include charts and a question-and-answer session. The company’s news release detailing the results will also be available. The live audio stream and slide presentation can be accessed August 4, 2021, at http://investor.spiritaero.com/.

Individuals are urged to check the web site in advance to ensure their computers are configured for the audio stream and slide presentation.

About Spirit AeroSystems, Inc.

Spirit AeroSystems is one of the world’s largest manufacturers of aerostructures for commercial airplanes, defense platforms, and business/regional jets. With expertise in aluminum and advanced composite manufacturing solutions, the company’s core products include fuselages, integrated wings and wing components, pylons, and nacelles. We are leveraging decades of design and manufacturing expertise to be the most innovative and reliable supplier of military aerostructures, and specialty high-temperature materials, enabling warfighters to execute complex, critical missions. Spirit also serves the aftermarket for commercial and business/regional jets. Headquartered in Wichita, Kansas, Spirit has facilities in the U.S., U.K., France, Malaysia and Morocco. More information is available at www.spiritaero.com.

Ryan Avey or Aaron Hunt, Investor Relations, (316) 523-7040

Molly Edwards, Corporate Communications, (316) 523-2479

KEYWORDS: United States North America Kansas

INDUSTRY KEYWORDS: Contracts Defense Aerospace Manufacturing

MEDIA:

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Colfax Schedules Second Quarter 2021 Earnings Release and Conference Call

       

Annapolis Junction, MD, July 14, 2021 (GLOBE NEWSWIRE) — Colfax Corporation (NYSE: CFX), a leading diversified technology company, today announced that it will issue a press release providing financial results for the second quarter of 2021 on the morning of Thursday, July 29, 2021. The Company will hold a conference call to discuss these results beginning at 8:00 a.m. Eastern on that day, which will be open to the public by calling +1-877-303-7908 (U.S. callers) and +1-678-373-0875 (International callers) and referencing the conference ID number 7659856 and through webcast via Colfax’s website www.colfaxcorp.com under the “Investors” section.

Colfax’s financial results press release and supplemental information referenced on the call, if any, for the second quarter of 2021 will be available under the “Investors” section of Colfax’s website prior to the conference call. A link to a replay of the call will also be available on the Colfax website later that day.

About Colfax Corporation

Colfax Corporation (NYSE: CFX) is a leading diversified technology company that provides orthopedic and fabrication technology products and services to customers around the world, principally under the DJO and ESAB brands. The Company uses its Colfax Business System (“CBS”), a comprehensive set of tools and processes, to create superior value for customers, shareholders and associates. In March of 2021, Colfax announced its intention to separate into two independent and public companies, which is targeted to be completed in the first quarter of 2022 to accelerate strategic momentum and unlock additional value creation potential; one business will focus on specialty medical technologies and the other on fabrication technologies. For more information about Colfax and our separation activities, please visit www.colfaxcorp.com.

Investor Contact:

Mike Macek
Vice President, Finance
Colfax Corporation
+1 (302) 252-9129
[email protected]